Look up "race to the bottom", a term that describes lose-lose situations resulti... | Hacker News

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inigyou 51 days ago | parent | context | favorite | on: Dupes took over the world

Look up "race to the bottom", a term that describes lose-lose situations resulting from rational market dynamics.

wizzwizz4 51 days ago [–]

But, of course, there's no law of nature saying that we have to organise our society according to "rational" market dynamics. Many writers (famously Adam Smith) have opined on the subject.

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